Device for indicating market quotations



Apri 1931- E. c. FURRER 1,800,286

DEVIQE FORJNDICATING MARKET QUOTATIONS Filed March 13, 1928 4 Sheets-She et l I VENTOR Emery aFurrer,

ATTORNEY April 14, 1931. E. c. FURRER 1,800,236

DEVICE FOR INDICATING MARKET QUOTATIONS Filed March 13, 1928 4 ShGBtS-ShGGt -2 INVENTOR Emery 6i Furr'er,

WMM Q ATTOR N EY April 14, 1931. E. c. FURRER I DEVICE FOR INDICATING MARKET QUOTATIONS Filed March 13, 1928 4 Sheets-Sheet 5 !NVENTOR Emer QIurre umz Iux 5 ATTORNEY A April 14, 1931. c, FURRER DEv qE FOR INDICATING MARKET QUOTATIONS Filed March 15, 1928 4 Sheets-Sheet 4 INVENTOR [mar fllurrer;

ATTORNEY a. M e

Patented Apr. 14, 1931 PAT ENT OFFICE EMERY C. FURRER, OF CHICAGO, ILLINOIS DEVICE FOR INDICATING MARKET QUOTATIONS 7 Application filed March 13, 1928. Serial No. 261,302.

My invention relates to improvements in 1 devices for indicating market quotations, and it consists in the combinations, constructions and arrangements herein described and claimed.

An object of my invention is to provide a device for printing and displaying a plurality of tape elements in an expeditious manner. g

A further object of my invention is the provision of a printing unit which permits continuous rotation of the type cylinder as the legends are printed, thus permitting faster transmission of information.

Also, it is an object of my invention to provide a means for locking the printing mechanism as soon as a release space 15 printed, this permitting a faster transmission of information, since when a tape is selected the type cylinder is in position to print the first legend. v

A still-further object is the provision of means whereby an operator may depress several keys at one time and still have the legends printed in sequence.

It is a still further object of my "invention to provide a means whereby a single transmission line Wlll establish a communlcation between a sending and receiving set,

thus reducing cost of installation.

It is a further object of my invention to provide a device which is operated by rapid uniform reversal of current without intermittent long flow of current to reduce speed of apparatus, thus attaining a faster transmission of information.

A still further object is the provision of a novel tape take-up mechanism which will be simple and positive in operation. 7

It is a still further object of my invention to provide a circuit whereby the changing of one or two circuits of a particular receiver will permit printing upon any one of a pluralityof tapes.v This is important where an installation is of limited space. 1

Other objects and advantages wlllappear in the following specifica-tion and the, novel features of the invention will beparticularly pointed out in the appended claims.

My invention 1s illustrat d in the accbm panying drawings, forming part of this specilication, in which Figure 1 is thewiring diagram for are ceiving instrument;

' Figure 2 is the wiring diagram of the sendin instrument;

Figure 3 is a front elevation of a display board;

Figure't is a cross section on the line 4-4 of Figure 3;

- Figure 5 is a fragmentary elevation of the support and drive for the tape;

Figure 6 is a cross section'on the line 66 of Figure 3, illustrating the selector mechanism;

Figure 7 is a cross section on the line 77 of Figure 3;

Figure 8 is an enlarged fragmentary detail of the printing mechanism;

Figure 9 is an enlarged fragmentary detail of the selector mechanism;

Figure 10 is aside elevation'thereof I Figure 11 is a longitudinal sectional view through the selector wheel illustrating the brush mounting Figure 12 is a cross section on the line 1212 of Figure 5; and

Figure 13'is a cross section on the'line 1313, of Figure 5.

At many places, for instance, New York Stock Exchange and Chicago Board of Trade, securities, produce, etc. are bought and sold upon organized markets. Orders to be executed upon these markets are secured by brokers who maintain oiiices in various cities throughout the country. As soon as possible after a sale is made u on these markets the customers inv all these rokers offices wish to know the price of the sale and the number of shares sold, etc. My device quickly supplies this information to the brokers and their customers.

- device for purposes of operation is divided into. a' sending instrument and receivmg 1nstrument.' In or near the particular marketI would placethe sending instrument which controls an alternating electrical current passing over afsingle conductor connected with "the receiving instruments in all the brokers oflices. The return circuit would the brokers customers room. The informa-' tion will be printed in type easily readable up to'a distance of about 30 feet.

The board receiver will be placed in the stock exchange or board of trade where the floor traders and others can see it. It will be readable at a greater distance than either of the other receivers, and it may be the receiver portion of the sending instrument.

All three types of receivers will be the same except for the parts of each that must be different in order to print inthree different sizes of legends.

That portion of the receiver shown in Figure 3 is the display board. It consists of an outside frame, vertical legend panels and horizontal tapes. The frame supports and incloses the various mechanical parts; the vertical legend panels supporting legends opposite each tape. The information about a particular stock or produce is all printed upon a particular tape and the legend oppo' site that tape gives the name of the stock or roduce.

s soon as the information is printed upon the tape it is pulled through a slot in the right hand legend panel 20 and is then on display. From time to time as more information is printed the tape is pulled across the display board and disappears through a slot at the left legend panel 20a.

The mechanical parts of a receiver may be classified in three divisions, the control mechanism, the selector mechanism and the printing mechanism.

The control mechanism regulates the elec trical current that actuates the selector and printing mechanisms, and is shown in Figures 1 and 6. It consists of two polarized electromagnets PM1 and PM2, two armatures 7 .and 8 hinged at their lower ends and normally held in the neutral position by springs on either side, and six contact lugs 1, 2, 3, 4, 5 and 6. At the hinged ends the two armatures have electrical connections. Armature 7 is like a double throw single pole electrically. operated switch. Armature 8 is similar tures L1 and-L2 with their lower ends fasl tened to the frame and the upper ends free to move, two electromagnets EMl and EM2, four switches 23, 24, 25 and 26 in the line of movement of armatures L1 and L2, two armatures 9 and 10 hinged at their upper ends with hinged pawls at their lower ends, and springs 12 and 13 attached to them, polarized electromagnets PM3 and PM4, and two selector wheels S1 and S2, also two stationary commutators F1 and F2 behind the selector wheels. Upon each wheel is mounted a brush B3 and B4 which as the wheels revolve come in contact with the conductor points of the commutators F1 and F2. The fixed end of these brushes surround the hub of the wheels S1 and S2. Another brush is continually in contact with each of these at the hub of the wheels. Thus the brushes B3 and B4 are electrically operated, revolving multipolar switches the conductor points of the commutators being the poles. When current from battery B1 passes through PMS it pulls its armature 9 to the left. The pawl at the lower end drops behind the next tooth of wheel S1. When armature 9 is released spring 12 pulls it back to the right and rotates wheel S1. At the same time brush B3 moves on to the next segment of commutator F1. Electromagnet PM4 rotates S2 in the same way, when current flows from battery B2.

Each wheel has 30 teeth, and each commutator has 30 segments. This number is required to select any one of 900 tapes as will be explained in greater detail.

Directly in line with the armature L1 is stop lever 14 hinged to S1. Above lever 14 is a set screw which can be adjusted so when 14 comes in contact with L1 and stops wheel S1 brush B3 will be between the segments of commutator F1. When electromagnet EMl pulls armature L1 lever 14 drops down hehind armature L1 and wheel S1 is unlocked.

In normally revolving S1 stops each time with brush B3 upon a segment of F1. In this position of the wheel S1 if electromagnet EMl pulls armature L1, the projecting portion will pass between the teeth of wheel S1 and stop it. In the locked position armature L1 cannot pass between the teeth of the wheel S1. When armature L1 passes between the teeth of wheel S1, it closes switches 24 and 23. The corresponding parts of the wheel S2 work the same way.

In Figure 7 two switches W1 and \V2 are snow? with their electromagnets EM4 and EMS and springs 27 and 30. They are elecsurface. Thus the cylinder moves the tape rically operated single throw, single pole switches. v

In Figure 5 a motor M1 is shown, connected to a shaft 28 through a friction clutch 02. Upon the shaft 28 are several bevel gears G1, an escapement wheel S3 and another wheel B6. In mesh with the bevel gears G1 are the bevel gears G2. One half the gears G2 are upon the type cylinders TC and'the other half upon the tape take-ups C1. Since the tape take-ups C1 and the type cylinders TC are driven through the same shaft 28, a point upon the surface of a tape takeup can be made to move at the same velocity as any point upon the surface of a type cylinder by using the proper gear ratios. The motor may rotate continuously but shaft 28 and cylinders TC and take-ups C1 revolve only as escapement wheel S3 permits their rotation. Near escapement wheel S3 there is a lock armature L3 which is. in line with a laterally extending lug upon the escapement wheel S3.

When the lug comes in contact with arma- I ture L3 wheel S3 is stopped. An electromagnet EM5 shown in Figure 5 can pull armature L3 to one side so the lug will pass. There is also an escapement lever 11 pivoted (see Figure 13) at its center and controlled by the polarized electromagnetPMF). Electromagnet PM5 pulls lever 11 first to one side and then to the other thus allowing S3 to rotate step by step. The electromagnet thus controls the rotation of the type cylinders and tape take-ups. The tape take-up consists of a revolving cylinder partly surrounded by a. shield 22, the shield being in position so that the tape asses between the cylinder and the shield. T e surface of the cylinder has a higher coefficient of friction than the shield because they are made of different materials' The shield may be polished brass or copper and the cylinder may have a rubber or felt whenever it is released, and is continually pullin'g upon it.

Opposite each tape upon the t pe cylinder, is a complete set of legends or printing. Each set has the same legends arranged in the same order so the same legend is op osite all tapes at each instance. Just back 0 each tape is a printing platen 17 (see Figure 8) secured at its left end to member 18 extend;

' ing from top to bottom of the frame. Its

right end is free to move. There is an electromagnet EM3 to actuate each platen. Projecting from the rear of the platen is an, (L

shaped piece) extending around a rod 21. The tape passes between this L piece and rod 21. Normally the L piece holds the tape securely against the rod 21, frictionally, so the tape take-up cannot pull it. When electromagnet EM3 attracts platen 17 upwardly the tape is released at 21 and starts moving due to pull of tape take-up. If the tape were fixed, say at C1, then the tape i would still move acrossthe face of the platen 17 when the platen-moves away from panel 20. This small additional velocity imparted, momentarily, by platen 17 to that portion of the tape opposite the type cylinder approximately balances or offsets the slippage in starting at the tape take-ups. It was ex plained previously, that the surface of the type cylinder, and the surface of the tape take-up revolve atthe same velocity. Thus when the tape is'pressed against the type cylinder, to print, it will be moving at substantially the same velocity as the cylinder. It is not necessary that the tape be moving at -ex actly the same velocity as the ty e cylinder, when it comes into. contact with t e type, be cause the stickiness of'the ink will prevent slipping due to a small difference in velocity. Thus when the tape is pressed against the type cylinder TC it is moving in the same direction and at about the same speed as the surface of the cylinder. This prevents smearing the legend printed upon the tape.

Each type cylinder is provided with an ink roller IR, in contact with the cylinder. The shaft 28 alsocarries a wheel B6 of non conducting material, having a contact portion 29 which allows current to flow over a certain circuit when a certain legend is in position to be printed. \Vhen brush B7 comes in contact with the conductor portion 29 current can fiow through it. Contact 29 is connected with the hub of wheel B6 by a conductor and a brush is continually in contact with the hub.

The mechanical parts for the sending instrument are exactly the same as the receivers with some additional parts. The selector mechanism has two additional stationary commutators F3 and F4 out side of the others as shown in Figure 2 which is the wiring diagram fora sending instrument.

There are two brushes B17 and B18 on wheels Sland S2 which are in contact with the commutators F3 and F4. These brushes are connected with the shafts of their respective wheels. There is anotherbrush B17a continually in contact with the far end of these shafts. The brushes B17 and B18 are thusmultipolar revolving switches, the segstrument there is an electrical connection Lla (see Figure 9). Thecurrent can pass over L1 andL2 and olf through-contacts 40 and 41 only when L1 and L2 are in released position. The current can also pass through the free ends of.L1 and L2 to levers 14 and 15 and through the adjustment set screws which are connected by conductors to the brushes upon the ends of shafts for S1 and S2.

strument has an additional wheel S4 (see Figure 2,) on shaft 28 which carries two brushes The printing mechanism of the sending in- B12 and B13 in contact with a stationary commutator F5 arranged in two circles with the'conductor segments in one circle alternate with those in the other. There is a segment in F5 for each legend upon the type cylinder T C. There are two brushes in contact with different portions of the hub ofwheel S4 which are in turn connected with brushes B12 and B13 by conductors. The wheel S4 may be omitted, however, and the brushes placed upon wheel S3.

The sending instrument; has two divisions the receivers do not have, an alternator or revolving commutator, and a key board. The alternator makes alternating current out of two sources of direct current. This is clearly illustrated in Figure 2. It consists of amotor M2 connected to a commutator A1 with three brushes B19, B8 and B9. The conductor segments of commutator A1 extend from either end alternately about two-thirds across the face of A1 so that only two of the three brushes come in contact With one of the segments at the same time.

The sending instrument has two single pole hand operated switches V3 and V4 (see Figure 2) and two electrically operated double-throw single pole switches 32 and 33 with springs 36 and 37, poles 34, 38, 39 and 35 and electromagnets EMS and EM7.

The sending instrument key board has three divisions, 30 keys SK1, 24 keys TK and 30 keys 8K2. The number of keys vary with the number of tapes and the number of legends on the type cylinder. The 30 SKl keys control the S1 portion of the selector mechanism and stop S1 with its brushes upon the 30 different segments of commutators F1 and F3. wheel S2 and stop it with its brushes upon any one of the 30 segments of commentators F2 and F4. The 24 TR keys correspond to the 24 legends upon'the cylinder TC and the 24 segments of the stationary commutator F5. These keys control the printing of the various legends. All the keys as shown may be push buttons as used for door bells, etc.

Also at the sending instrument and all repeater stations is a relay actuated by polarized electromagnets PMG and PM? (see Figure 2). Armature A3 for magnet PM7 is forked at its free end. Battery B is con nected with two contact points on either side of the left fork so that when these points come in contact with armature A2 or lug 42 current may continue through these. Battery B21 is connected with two contact points on either side of the right fork so that when these points come in contact with armature A2 or lug 43 current may continue therethr'ough. Battery B22 is connected to lug 42 and bat tery B23 to lug 43. Armature A3 is held midway between lugs 42 and 43 by two springs, and the armature A2 is similarly held midway between the two forks of A3.

The SK2' keys likewise control Low voltage positive current from battery B10 causes elcctromagnet PM6 to pull armature A2 in contact with the left fork of A3. Low voltage positive current is thus relayed from battery B20 thru A2 over the main line ML. Likewise low voltage negative current from battery B11 causes electromagnet PM6 to pull armature A2 in contact with the right fork of A3 and low voltage negative current is relayed from battery B21 thru armature A2 over the main line ML. The low voltage current is not strong enough to actuate armature A3 thru electromagnet PM? so A3 remains in neutral position. Positive high voltage current from battery B10 and battery B14;

causes clect-romagnet PM7 to pull the left fork of armature A3 against lug 42. Positive high "oltage current flows from batteries B20 and B22 over the main line ML. At the same time armature A2 is pulled to the left but cannot come in contact with the left fork of armature A3 because it hits a stop 44. Likewise negative, high voltage current from batteries B11 and B15 causes electromagnet PM7 to pull the right fork of armature A3 against lug; 43. Negative high voltage current flows from batteries B21 and B23 over the main line ML. At the same time armature A2 hits stop 45 so it cannot come in contact with the right fork of A3.

Attention is directed to Figure 1 which shows the wiring diagram for a receiving instrun'ient. circuits:

(1) Main line control circuit.-Earth E1, battery B20, armature A2, main line ML, polarized electromagnets PMl and PM2, earth E, earth E1, battery B21, armature A2, main line, polarized electromagnets PM1 and PM2; earth E1, battery B20, lug 42, battery B22, main line ML, polarized electromagnets PMl and PM2; earth E, earth E1, battery B21, lug 43, battery B23, main line, polarized electromagnets PMl and PM2, earth E.

(2) Positive control circuit.-Battery B1, lug 1, armature 7 polarized electromagnet PM3, battery B1, battery B1, lug 1, armature The following are the various 7, polarized electromagnet PM4, battery B1;

battery 1, lug 1, armature 7 polarized electromagnet PM5, battery B1.

(3) N egazioe control circuit.Battery B2, lug 2, armature 7, polarized electromagnet PM3, battery B2; battery B2, lug 2, armature 7, polarized electromagnet PM4, battery B2; battery B2, lug 2, armature 7, polarized electromagnet PM5, battery B2.

(4) Stop release circuit N0.'1.-Battery B5, armature 8, lug 3, electromagnet EMl, switch W2, battery B5.

(5) Stop release circuit No. 2.--Battery B5, armature 8, lug 5, electromagnet EM2, switch W2, battery B5.

(6) Hold circuit 1V0. 1-Battery B5, switch 23, electromagnet EMl, switch W2, battery B5.

- 7 Hold time No." 2.Batte switch 25, electroinagnet EM2, switc battery B5.

' magnet EM8, battery B16.

(8) Printing release oirou/it.---Batter%1 B5, switch 24, switch 26-, electromagnet M4, battery B5, battery B5, switch 24, switch 26, motor M1, battery B5 ;'battery B5, switch 24, switch 26, electromagnet EM5,ibattery B5.

(9) Printing oirouit.-Battery B5, armature 8, lugs 4 0r-6, wheel S1, brush B3, commutator" F 1, electromagnet'EM3, commutator F2, brush B4, wheel, S2, switch W1, battery B5. v

(10) Selector release circuit-Battery B5, armature 8, lugs 4 or 6, wheel B6,,contact 29, brush B7, electromagnet EM6, battery B5.

The sending instrument has the same circuits as given above exce t the main line control circuit and iii-addition the following circuits: v

(11) Positive low voltage oirouit.-Battery B10, lug 38,.switch 32, brush B19, commutator A1, brush B8, polarized electromagnet PMl, switch -W3, attery B10; battery B10, lug 38, switch 32, brush B19, commutator A1, brush B8, polarized electromagnet PM2, switch W3, battery B10, and polarized relays PMl, PM2, PM6 and PM'Z.

(12 Negative low voltage oirouit.Battery 11, lug 39, switch 33, brush B9, commutator A1, brush B8, polarized electromagnets PMl and PM2, switch axiri zpolariied relays PMl, PM2, PM6 and P I (13) Lock circuit N0. 1.-Battery B16, switch W4, armature L1, lever 14, electro- (14) Lock circuit N0. 2.Battery B16, switch W4, armature L2, lever 15, electromagnet EM7, and batterv B16.

(15) Positive high voltage cirmza'tr -Battery B10, battery B14, lug 34, switch 32, brush B19, commutator A1, brush B8, polarized electromagnets PMl and PM2, switch W3, battery B10, battery B14, and polarized relays PM1,,PM2, PM6 and PM'I.

(16 Negative high'voltage oircwit.- -Battery 11, batteryB15, In 35, switch 33, brush B9, commutator A1, rush B8, polarized electromagnets PM1 and PM2, switch W3, battery B11, battery B15, and polarized relays PMl, PM2, 'PM6 and PM7.

(17') Selector circuit No. 1.--Batte B16, switch W4, armature L1, lu 40, S lkey, commutator F3, brushB17,w eel S1, electromagnet EMS, battery B16.

(18) Selector eirom't N o. 2.--Battery B16, switch W4, armature L2, lug 41, key SK2, commutator F4, brush B18, wheelS2, electromagnet EM7, battery B16. 1

(19) Type circuit-Battery B16, switch W4, key TK, commutator F5, brushes B12 or B13, electromagnets EMS or EM7, batter B16.

1) The main line control circuit starts at called negative.

PMl acts asa relay and relays the positive current to the (2) positive control circuit and W3 battery B11 the ground E1 at the sendin instrument or at a repeater station. The atteries B20- B21B22 and B23 and relay PM6 and PM7 are at this station. The polarized electromagnets PM6 and PM7 with 'armaturesA2 and A3, lugs 42, 43,44 and 45and batteries B20, B21, B22 and B23 form .a relay. Any other suitable relaymay be used. PMS responds to the low voltage current from bat-- teries B10 and B11. Current. from B10 is relayed from B20 through armature A2 over the main line circuit. I Likewise current from B11 is relayed from batter B21 thru armature A2. Electromagnet M7 is actuated only by the high voltage current and relays ,these. pulses of current from. battery B20 and B22 or B21 and B23, depending upon direction of flow ofcurrent, thru lug 42 or 43 over the main line circuit. The polarized clectromagnets PMl and'PM2 and the earth connection E are at the receiving instrument. Current flowing to the receiver is called posi:

tiveQ Current fiowingfrom the receiver is,

Polarized electromagnet negative current tothe (3) negative control circuit." The main line. current would be too weak to operate the selector mechanism and control the printing. Electromagnet PM2 is actuated only by the high voltage current coming over the (1') main line control circuit, It permits current to flow from battery B5 over four circuits, (4) stop release circuits No. 1 and (5) No. 2, (9) printing circuit and (10) selector release circuit.

(2) The positive control circuit and the (3) negative control circuit are the same exceptthe current comes from separate batteries and flows in opposite directions through the magnets. Current over the (2) positive control circuit causes electromagnetPM3 to actuate its armature 9. When armature 9 is rent over the (3) negative control circuit causes electromagnet PM5 to pull armature 11 to the right which permits escapement wheel S3 to rotate step by step. Current flows over one of these circuits every time current flows over the (1) main line control circuit:

(4) Stop release circuit No. 1 releases or stops the wheel S1 of the selector mechanism.

Current passes over this circuit whenever hi h volta e positive current comes over the (1 main hue control circuit because electroma net PM2 pulls armature 8 in contact wit lug 3. This current causeselectromagnet EMl to actuate its armature L1. Arma- L1. Armature L1 stops wheel S1 if it is not locked, because the end of L1 passes between the teeth on wheel S1.

(5) Stop release circuit No. 2 releases or stops the wheel S2 of the selector mechanism.

Current passes over this circuit whenever high voltage negative current comes over the (1) main line control circuit because electromagnet PM2 pulls armature 8 in'contact with lug 5. This current causes electromagnet EM2 to actuate its armature L2. Armature L2 releases wheel S2 if it is locked, because lever 15 will drop down behind L2." Armature L2 stops wheel S2 if it is not locked, be-

cause the end of armature L2 passes between the teeth on wheel S2.

(6) Hold circuit No. 1 carries current only when armature L1 is in position to stop wheel S1 because whenarmature L1 passes between the teeth of wheel S1, it moves against switch 23 s'ufiicient to close it. This current through ele'ctromagnet EMl holds armature L1 in positionto stop wheel S1.

' (7) Hold circuit No. 2 carries current only when'armature L2 is in position to stop wheel S2 because when armature L2 passes between the teeth of wheel S2 it moves against switch 25 sufficient to close it. This current through electromagnet EM2 holds armature 'L2 in position to stop wheel S2.

(8) Printing release circuit carries, current only when both switches 24 and 26 are closed by armature L1 and L2 respectively which condition exists only when both wheels S1 and S2 are stopped to select a certain tape. This current through electromagnet EM4 closes switch Wl'which is in'the printing circuit. This current starts and runs motor M1 thus rotating the printing mechanism. This current through electromagnet EM5 pulls armature L3 to disengage lug 16 and release wheel S3. The printing release circuit carries current to release and run the printing mechanism.

(9) Printing circuit carries the current that prints the various legends. This current causes electromagnet EM3 to actuate its armature '17 Armature 17 presses the tape 19 against the type cylinder TC and thus prints the legend. This current cannot flow until the selector mechanism, wheels S1 and S2 are stop ed to select a tape, switch W1 is closed and igh voltage current passes over the 1) main control circuit to bring armaF I ture 8 in contact with lug 4 or 6. a

(10) Selector release circuit releases the mechanism by 0 enin switch W2 through electroma et El16. urrent flows over this circuit on y when electromagnet PM2 attracts-armature 8 and brush B7 is upon conductor point 29 of wheel B6. This latter condition prevails only when the printing mechanism is in position to print a space.

The above explanation of the circuits applies to the receivers. The corresponding cir+ closed and commutator A1 is revolving.

(13) Lock circuit No. 1 carries current only when switch W4 is closed and wheel S1 is locked. This current causes electromagnet EM8 to pull switch 32 against lug 34. Then current flows over the (15) positive high voltage circuit and unlocks wheel S1.

(14) Lock circuit No. 2 carries current only when switch W4 is closed and wheel S2 is locked. This current causes electromagnet EM7 topull switch 33 against lug 35. Then current flows over the (16) negative high voltage circuit and unlocks wheel S2.

(15) The positive high voltage circuit is almost the same as the (11) positive low voltage circuit.

(16) The negative igh voltage circuit is almost the same as the 12) negative low voltagev circuit. The current over these high voltage circuits is relayed to the receivers and causes electromagnet PM2 to attract its armature 8. The high voltage current that flows over these circuits takes the place of the corresponding low voltage current. The ositive high voltage current flows over the 15) positive high voltage circuit only when switch W3 is closedand switch 32 is on lug 34.. Each flow of this current does one of three things.

unlocks or stops the wheel S1 of the selector mechanism or prints a legend. Highvoltage current (flows over the (16) negative highvoltage circuit only when switch W3 is closed and switch 33 is on lug 35. Eachflow of this current does one of three things, unlocks or stops the wheel S2 of the selector mechanism or prints a legend.

(17 Selector circuit No. 1 carries current when wheel S1 revolves so brush B17 is on the segment of F3 that is connected with the depressed SKI key. This current causes electromagnet EMS to pull switch 32 against lug 34 and then high voltage current flows over the (15) positive high voltage circuit. The latter current stops wheel S1.

(18) Selector circuit No. 2 carries current when wheel S2 revolves so brush B18 is on the segment of F4 that is connected with the depressed SK2 key. This current causes electroma et EM7 to pull switch 33 against lug 35 an then high voltage current flows over ticular segment of commutator F1. Like wise by depressing a particular SK2 key, wheel S2 is stopped with its brush B4 upon a particular segment of commutator F2. This selects a certain tape to be printed upon. The EMS electromagnet for each tape is connected in circuit between a different pair of segments of commutator-s F1 and F2. If p ,mechanisms. Closing switch W4 allows curthere are 30 segments in F1 and 30 in F2 then 900 EM3 magnets can be connected between them. Counting from the locked position of wheel S1 the first segment of commutator F1 brush B3 comes in contact with has 30 wires three things:

connecting with 30 electromagnets-EMii. Each one of these electromagnets is connected with one of the segments of F2. Likewise the second segment of F1 has 30 wires to 30 more electromagnets and'each one of these is connectedwith one of the 30 segments-of F2. Likewise with the other 28 segments of F1. Thus when brush B3 of wheel S1, is stopped upon a particular'segment of commutator F1, and brush B4 of wheel S2 is stopped upon a particular segment of COI11-= mutator F2 the printing circuit from battery B5 is closed, so that the current will flow through a certain one of the 900 electromagnets EM3 when electromagnet PM2 attracts its armature 8. V

(19) The type circuit allows high voltage current to fiow toprint the various legends. Current flows over this circuit when brush B12 or brush B13 comes in contact with the segment of commutator F5, that is connected with the depressed TK key. When this current flows, the legend the depressed TK key represents, is in position to be printed. This current causes EM8 to pull switch 32 in contact with lug 34 or it causes electromagnet EM7 to pull switch 33 in contact with lug 35 and current flows over the (15) positive high voltage circuit or the (16) negative high vol tage circuit. Current cannot flow over the (19) type circuit when the printing mechanism is locked because brushes B12'and 1313 are between the segments of F5. u A

To start my device the operatormust do these three things, first he 1. Closes switch W3; I 2. Start motor M2 by closing switch W5, and then p 3. Close switch W4. I

To print upon a particular tape the operator must do three things:

4. Depress one SKl key;

5. Depress one SK2 key, and then 6. Depress TK keys. 1

To stop the device the operator must do 7. Open switch W4; 8. Stop motor M2 by opening switchW5;

, wheel S2'of the selector mechanism.

Hold circuit No. 2 holds wheel S2. As soon 9. Open switch W3.

Closing switch W3 and starting motor M2 allows current to flow alternately over the (11) positive low voltage circuit and the (12) negative low voltage circuit. This current would be relayed over the (1) main line control circuit and then alternately over the'.- (2) positive control circuit and the (3) negative control circuit. Through the latter circuits the whole system is operated in unison step by step. I

Closing switch W4 unlocks all the selector rent to flow overthe (13) lock circuitNo: 1 and (14) lock circuit No. 2. Current over the (13) lock circuit No. 1 causes current to flow over the (15) positive high voltage circuit which is relayed to all PM2 "magnets over the (1) main line control circuit and then over the (4) stop release circuit N o. 1,

which unlocks or releases the wheel S1 of the selector mechanisms. Current over the (14) lock circuit No. 2 causes current to flow over the (16) negative high voltage circuit which is relayed to all PM2 magnets over the main line control circuit and then over the (5) stop release circuit No.2 which unlocks or releases the wheelS2 of the selector mechanism.

permits current to fiow over the (15) positive high voltage circuit which is relayed over the (1) main line control -circuitof all PM2 magnets then-over the (4) sto release circuit No. 1' which sto s the wheel selector mechanism. 6) Hold circuit No. 1 holds wheel S1. Depressing the SK2 key allows current to flow over (18) selector circuit No. 2. This permits current to flow over the (16) negative high voltage circuit which is relayed over the (1) main line control circuit to all PM2 magnets then over the (5) stop release circuit N0./2 which stops the as bothwheels S1 and S2 are stopped current flows. over 8) printing release circuit which unlocks escapement .wheel S3, starts motor M1, and closes switch W1 in the (9) printing circuit. Depressing the TK key allows current to flow over the (19) type circuit. This permits current to flow over the (15) posilofthe tive high voltage circuit or the (16) negative hi h voltage eircuitwhich is relayed over the (1 main line control circuit to all PM2 magnetsthen over the (9) printing circuit-The current through the printing circuit prints Pr an her eg nd eii'd p e s s the. 7 T

. key forthatlegend.

'.-,;Whe h We; nm es pittin upona particular tape. he printsa dot' to indicate a space, When this spaceis printed cnrrentfiowlsfover the "(10) selectorrelease' nisms.

. 1: Unlessstopped to Select a tape,the selector mechanism revolves continuously until. the QP T ep ns- Swi W T e t 's p when-they rotate tolocked position. witch W4 should be" opened. occasionally to syncircuit which, releases the selector mechachronize the selector mechanisms, When the operator stops 'ptor and opens switchlYZ; current'stops flowing over the (11) positive low voltage circuit and the (12 negative I low Yoltagecircuit,

Iclaim;.f. ,rF' Z .1. A device for indicating market v notationscomprising a stationary (lisplayjoard having a series of legends indicating difi'erent stocksfa movabletape associated with each stock, means for. seleetinggand' moving any of. said. ta es in a" directiQnparalIeI to itslongitndina axis consisting of a plurality of; interconnected. selector mechanisms and key-boards for controllin each of said selector mechanisms, a revolu 1e type wheel, and means for bringing a selected tape intoj conmet. with the type wheel, during the revolution ofthe latter. 1, 3. f 2. A device for indicating 7 market notationsicomprising a stationary display 'oard having a series of legends indicating. different stocks, [a movable. tape associated with ea h Stack ea s: f 'se e t n an i oi n "anyefgsaidapes 1m direction pmneu its longitudinal axis cpnsisting of. a pluralityiof interconnectedselectormechanisms and .keyboards for. controlling-each. of said. seleetor inechanisnis,"- la revoluble type Wheel l and means operable at will for 'bringinga selected tape; into contact with the type wheel atj a selected point on the latter. during therevo- .lnti6n ..of sa i d 'type...wheel. M

. awdvi 'eipr di at n -mar. a weon's m ris s t cnz ry p ay having a series one ends" indicating; :(lifiernt S ock am bf tr aciat w th a h "stockrg ea ors l ing l msvi any of said t ipsfinfa direction; parallel to its longitudinal axis'onsistingjof arplu rality of intercbn'nected selector me'eha i ms; and

key-boards .forrlc'ontrolling of said; selector .rnechanisrnsta; revolnble type wheel, means. for. locking the typerwheel against revelation, means ,centrenaelsy fromfla .Lrr b e po b j o Q ea nsIt Q- tYi -e whe to, permit the revolution. theit'ehf "and means fer. bringing the; selected tape Jocontact with the -type wheeljdnring. th evolli ion' of 4.. A device or in'dic'atin'g inarket'quotatapes. in a direction parallel tolits longitudita asw tions comprising a stationary'display board having a seriesof.legehds indieating difierent stocks, a v m )vable .tape associated with each, stock, means gror selecting. and moving any; of said tapes .in, a directiqn .iparallel to its longitudinalaxis, a revoluble typegwheel,

means for normall v actuating the type wheel to-cause therevo ntienthe'reof means for locking -the. type. wheel against revolution,

means operab e at a remote positienforireleaslng the. type wheel, means for bringinga selected tape into contact with the type wheel dnrlng the revolutionv of ,the latter, and

mean fer c s ng a movement o t e Portian 0f. thetape 'in contact with the type Wheel, at

hes mf spe t t e w e l, eby anunhlnrrcd impression is made on saidtape.

5." Ah glevice. for indicating l narket uotations eomprising aistationary, display. card h vin 1* s i .oi le en s ndi at n difler- .en ta ks, mo ape a socia ed w h ,each stock,.fm eans jcont rolled fromja remote position for selecting. and. moving any ofsaid .tapesin a direction parallel mo its longitudiml a r 'ro bl ty e. Whe a pl for ingeid t pe ga st t e. y e i ee position for selecting and moving. an of. said nal a r e revoluhle. type wheel, a plateigj a magnet for" actuatin the lj'platen, an arm Car e by 1 f} plat tgl id l q i aid tal being looped over. one end of the platen; and

Pa sin -a und. fl d'lgu e rod, a type wh e e ssladi ii d as o eg g by thelgportionpf,the tape between the; end o t e paw a -th ui er d, t mav m nta t plat hto 'er lty pe w ll w ing .afniovernentf of the; tape correspnnding with the, niovemnt of theftype 1 wheel, and

means. atituated from fa.,reinote positibn. for

controlling" the actien "hffthe. magnet.

7.1;; a device Tforiindicating r'narket jqliotatio'n's, a normally,loeked retatahle .t e

wheel, means controlled frolnafdistance. or releasing the type wheel means for'lrotating the type Wheel, a longitudinally .I'mOvabIe tape in registration withsaidtype wheel, and means for bringing the tape intofcontact with the type wheel duringgthe .rotationiof the latter at a predetermined position of the type wheelazkey'board -for controlling said last narned means and detertniningsthepoint of contactsbetween said yp Wheel and said tapefwhe'reby to 'print' a predetermined character on the tape. v Ina deviceforindicating market quothe contact of the t tations, a normally locked rotatable type wheel, means controlled from a distance for releasing the type wheel, means for rotating the type wheel, a longitudinally movable tape in registration with said type wheel, and means for bringing the tape into contact with the type wheel during the rotation of the latter and for causing a movement of that portion of the tape in contact with the type wheel at the same rate at which the type wheel is moving.

9. A device for indicating market quotations comprising a stationary display board having a series of legends indicating difierent stocks, a movable tape associated with each stock, a normally locked type wheel individual to each tape for printing thereon, a normally locked selector mechanism, means controlled from a remote position for releasing the selector mechanism, means for actuating the selector mechanism on the release thereof, means controlled by the selector mechanism for releasing a predetermined type wheel, means for rotating the type wheel, and means for subsequently causing the contact of the type wheel with its associated tape.

10. A device for indicating market quotations comprising a stationary display board having a series of legends indicating difierent stocks, a movable-tape associated with each stock, a normally locked type wheel individual to each tape for printing thereon, a normally locked selector mechanism, means controlled from a remote position for releasing the selector mechanism, means for actuating the-selector mechanism on the release thereof, means controlled by the selector mechanism for releasing a predetermined type wheel, means for rotating the type wheel, and means for subsequently causing e wheel with its associated tape during t e movement of the type wheel.

11. A device for indicating market quotations comprising a stationary display board having a series of legends indicating difierent stocks, a movable tape associated with each stock, a normally locked type wheel individual to each tape for printing thereon, a normally locked selector mechanism, means controlled from a remote position for releasing the selector mechanism, means for actuatingthe selector mechanism on the release thereof, means controlled by the selector mechanism for releasing a predetermined type wheel, means for rotating the typewheel, a keyboard at the remote osition having keys corresponding to the 0 aracters on the t e wheel, and means actuated by the pressing of any key on said keyboard for causing a movement of the ta toward the type wheel for printing the esired character.

12. A device for indicating market quotations comprising a stationary display board having a series of legends indicatin difierent stocks, a movable tape associate with each stock, a rotatable type wheel individual to each tape, means for actuating the type wheel, a keyboard at a remote position, and means actuated by the pressing of a key on said keyboard for causing a movement of the tape into contact with the type wheel to print any desired character.

13. A device for indicating market quotations comprising a stationary display board having a series of legends indicating.

different stocks, a. movable tape associate with each stock, a rotatable type wheel individual to each tape, means for actuating the type wheel, a keyboard at a remote position, and means actuated by the pressing of a key on said keyboard for causing a movement of the tape into contact with the t pe wheel to print any desired character w ile the type wheel is rotating and for moving the tape at a speed corresponding with that of the type wheel whereby blurring of the printed character is eliminated.

Signed at Chicago, inthe county of Cook, and State of Illinois, this 5th day of March,

EMERY C. FURRER. 

